Family firms in uncertain environments: The role of values in the development of resilience

The purpose of this study is to understand the role of values in the development of resilience in family firms that strive in adverse conditions. Using a qualitative approach, the study analyses a single case of a family business group operating in Venezuela in an uncertain and adverse situation. Data was collected through in-depth interviews and documentary work. Our findings suggest that values play a dual role in the development of resilience of family firms such that they both may boost and hinder family resilience. Values influence decision making, conflict management, leadership and family beliefs.